Breaking News
Loading...
Tuesday, 8 January 2013

A wonderful commenter slid this my way in my previous article.  I haven't had time to really look this over yet, so I'm going to ask you guys to give it a good look and tell me what you think.  Many of these points are distinctly NESARA based.

D




Woodall Introduces FairTax with Record Support

Jan 3, 2013 Issues: FairTax
(WASHINGTON, D.C.) - U.S. Representative Rob Woodall (R-GA-07) introduced his signature legislation, H.R. 25, The FairTax, on Thursday, January 3, 2013—the first day of the 113th Congress—with a record number of original cosponsors in the House of Representatives.  The previous record number of original cosponsors was set by Woodall in 2011, and today the bill was reintroduced in the 113th Congress with even more original cosponsors, 53.
“The momentum is building for fundamental tax reform and it’s fueled by the American people,” said Woodall.  “We finished the 112th Congress with the highest number of combined cosponsors in the House and Senate that the FairTax has seen.  While I wish I could take credit for these gains, I cannot.  The credit goes to the tens of thousands of FairTax advocates across America who pursue, with tenacity and zeal, the FairTax’s advancement in their hometown and with their Congressman and Senators.  I’m grateful for their hard work and their commitment to America. They are changing minds and making a difference in Congress.”
H.R. 25, the FairTax, repeals the Sixteenth Amendment and replaces our current income tax system with a single, national consumption tax.  With the passage of the FairTax, American workers will receive their full paycheck before the federal government gets even a penny.
“The FairTax addresses so many of the challenges Americans face today.  By passing the FairTax, Congress can shield middle-class Americans from the burden of the payroll tax, the largest tax burden that most American families bear.  The FairTax would make it easier for businesses to grow and hire new workers by abolishing America’s corporate income tax, currently the highest in the world.  By passing the FairTax, Congress can also protect Social Security and Medicare for current and future retirees by switching to a more reliable revenue stream and increasing the number of Americans who contribute.  We can restore America as the primary destination of jobs and investment from around the world,” Woodall said.
“I am encouraged by the bipartisan, bicameral commitment to tackle fundamental tax reform this year on behalf of the American people.  Fundamental tax reform that makes our laws fairer, simpler, and more transparent would unleash America’s economic potential and allow the American people to focus on saving, investing, and succeeding rather than struggling to comply with the interminable tax changes and challenges of the federal government.  I join with the hundreds of thousands of patriots across the nation and a record number of House members in calling on Congress to consider the FairTax as part of our economic solution in 2013.”

http://woodall.house.gov/press-release/woodall-introduces-fairtaxbill-record-support






H.R. 25 (109th): Fair Tax Act of 2005

109th Congress, 2005–2006. Text as of Jan 04, 2005 (Introduced).
Status & Summary | PDF | Source: GPO
HR 25 IH
109th CONGRESS
1st Session
H. R. 25
To promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national sales tax to be administered primarily by the States.
IN THE HOUSE OF REPRESENTATIVES

January 4, 2005

Mr. LINDER (for himself, Mr. DELAY, Mr. BRADY of Texas, Mr. CULBERSON, Mr. DEAL of Georgia, Mr. FLAKE, Mr. GUTKNECHT, Mr. KING of Iowa, Mr. KINGSTON, Mr. WESTMORELAND, and Mr. PRICE of Georgia) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL
To promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national sales tax to be administered primarily by the States.
    Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

    (a) Short Title- This Act may be cited as the `Fair Tax Act of 2005'.
    (b) Table of Contents- The table of contents for this Act is as follows:
      Sec. 1. Short title; table of contents.
      Sec. 2. Congressional findings.

TITLE I--REPEAL OF THE INCOME TAX, PAYROLL TAXES, AND ESTATE AND GIFT TAXES

      Sec. 101. Income taxes repealed.
      Sec. 102. Payroll taxes repealed.
      Sec. 103. Estate and gift taxes repealed.
      Sec. 104. Conforming amendments; effective date.

TITLE II--SALES TAX ENACTED

      Sec. 201. Sales tax.
      Sec. 202. Conforming and technical amendments.

TITLE III--OTHER MATTERS

      Sec. 301. Phase-out of administration of repealed Federal taxes.
      Sec. 302. Administration of other Federal taxes.
      Sec. 303. Sales tax inclusive Social Security benefits indexation.

SEC. 2. CONGRESSIONAL FINDINGS.

    (a) Findings Relating to Federal Income Tax- Congress finds the Federal income tax--
      (1) retards economic growth and has reduced the standard of living of the American public;
      (2) impedes the international competitiveness of United States industry;
      (3) reduces savings and investment in the United States by taxing income multiple times;
      (4) slows the capital formation necessary for real wages to steadily increase;
      (5) lowers productivity;
      (6) imposes unacceptable and unnecessary administrative and compliance costs on individual and business taxpayers;
      (7) is unfair and inequitable;
      (8) unnecessarily intrudes upon the privacy and civil rights of United States citizens;
      (9) hides the true cost of government by embedding taxes in the costs of everything Americans buy;
      (10) is not being complied with at satisfactory levels and therefore raises the tax burden on law abiding citizens; and
      (11) impedes upward social mobility.
    (b) Findings Relating to Federal Payroll Taxes- Congress finds further that the Social Security and Medicare payroll taxes and self-employment taxes--
      (1) raise the cost of employment;
      (2) destroy jobs and cause unemployment; and
      (3) have a disproportionately adverse impact on lower income Americans.
    (c) Findings Relating to Federal Estate and Gift Taxes- Congress finds further that the Federal estate and gift taxes--
      (1) force family businesses and farms to be sold by the family to pay such taxes;
      (2) discourage capital formation and entrepreneurship;
      (3) foster the continued dominance of large enterprises over small family-owned companies and farms; and
      (4) impose unacceptably high tax planning costs on small businesses and farms.
    (d) Findings Relating to National Sales Tax- Congress finds further that a broad-based national sales tax on goods and services purchased for final consumption--
      (1) is similar in many respects to the sales and use taxes in place in 45 of the 50 States;
      (2) will promote savings and investment;
      (3) will promote fairness;
      (4) will promote economic growth;
      (5) will raise the standard of living;
      (6) will increase investment;
      (7) will enhance productivity and international competitiveness;
      (8) will reduce administrative burdens on the American taxpayer;
      (9) will improve upward social mobility; and
      (10) will respect the privacy interests and civil rights of taxpayers.
    (e) Findings Relating to Administration of National Sales Tax- Congress further finds that--
      (1) most of the practical experience administering sales taxes is found at the State governmental level;
      (2) it is desirable to harmonize Federal and State collection and enforcement efforts to the maximum extent possible;
      (3) it is sound tax administration policy to foster administration and collection of the Federal sales tax at the State level in return for a reasonable administration fee to the States; and
      (4) businesses that must collect and remit taxes should receive reasonable compensation for the cost of doing so.
    (f) Findings Relating to Repeal of Present Federal Tax System- Congress further finds that the 16th amendment to the United States Constitution should be repealed.

TITLE I--REPEAL OF THE INCOME TAX, PAYROLL TAXES, AND ESTATE AND GIFT TAXES

SEC. 101. INCOME TAXES REPEALED.

    Subtitle A of the Internal Revenue Code of 1986 (relating to income taxes and self-employment taxes) is repealed.

SEC. 102. PAYROLL TAXES REPEALED.

    (a) In General- Subtitle C of the Internal Revenue Code of 1986 (relating to payroll taxes and withholding of income taxes) is repealed.
    (b) Funding of Social Security- For funding of the Social Security Trust Funds from general revenue, see section 201 of the Social Security Act (42 U.S.C. 401).

SEC. 103. ESTATE AND GIFT TAXES REPEALED.



















0 comments:

Post a Comment